Contrarian Capital Management L.L.C. Takes Position in Capri Holdings Limited (NYSE:CPRI)

Contrarian Capital Management L.L.C. acquired a new position in Capri Holdings Limited (NYSE:CPRI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,000 shares of the company’s stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Capri by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 11,377,630 shares of the company’s stock worth $239,613,000 after buying an additional 151,866 shares during the period. FMR LLC boosted its position in Capri by 249.4% during the 4th quarter. FMR LLC now owns 9,987,603 shares of the company’s stock worth $210,339,000 after acquiring an additional 7,129,123 shares during the period. Primecap Management Co. CA grew its stake in Capri by 13.2% during the 4th quarter. Primecap Management Co. CA now owns 4,688,333 shares of the company’s stock valued at $98,736,000 after acquiring an additional 547,578 shares in the last quarter. Pacer Advisors Inc. grew its stake in Capri by 22,554.7% during the 4th quarter. Pacer Advisors Inc. now owns 3,902,960 shares of the company’s stock valued at $82,196,000 after acquiring an additional 3,885,732 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Capri in the 4th quarter valued at about $58,070,000. 84.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CPRI. Barclays lowered their price objective on shares of Capri from $19.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Guggenheim reiterated a “buy” rating and set a $30.00 price objective on shares of Capri in a report on Wednesday, February 12th. Jefferies Financial Group boosted their target price on Capri from $20.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, January 28th. Bank of America started coverage on Capri in a research note on Monday, February 10th. They set a “neutral” rating and a $23.00 price target for the company. Finally, Citigroup upgraded Capri from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $21.00 to $29.00 in a report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Capri presently has a consensus rating of “Hold” and a consensus target price of $24.08.

Capri Stock Up 3.5 %

CPRI opened at $13.74 on Friday. Capri Holdings Limited has a 1-year low of $11.86 and a 1-year high of $43.34. The business has a 50 day moving average of $19.53 and a 200-day moving average of $23.84. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -1.61, a P/E/G ratio of 7.80 and a beta of 1.77. The company has a current ratio of 1.21, a quick ratio of 0.59 and a debt-to-equity ratio of 1.36.

Capri (NYSE:CPRI) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.27). Capri had a positive return on equity of 12.89% and a negative net margin of 21.79%. During the same quarter last year, the business earned $1.20 earnings per share. As a group, sell-side analysts anticipate that Capri Holdings Limited will post 0.98 earnings per share for the current year.

About Capri

Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia. It operates through three segments: Versace, Jimmy Choo, and Michael Kors. The company offers ready-to-wear, accessories, footwear, handbags, scarves and belts, small leather goods, eyewear, watches, jewelry, fragrances, and home furnishings through a distribution network, including boutiques, department, and specialty stores, as well as through e-commerce sites.